MGEE has been the topic of a number of other research reports. Morgan Stanley raised their target price on shares of MGE Energy from $61.00 to $62.00 and gave the stock an underweight rating in a report on Tuesday, November 21st. TheStreet cut MGE Energy from a b rating to a c+ rating in a research report on Tuesday, January 30th.
MGE Energy Stock Up 1.0 %
MGE Energy Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, March 1st will be issued a $0.428 dividend. The ex-dividend date of this dividend is Thursday, February 29th. This represents a $1.71 dividend on an annualized basis and a dividend yield of 2.59%. MGE Energy’s dividend payout ratio (DPR) is presently 52.13%.
Institutional Trading of MGE Energy
Hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its stake in shares of MGE Energy by 5,333.3% in the second quarter. EverSource Wealth Advisors LLC now owns 326 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 320 shares during the period. Covestor Ltd increased its position in MGE Energy by 16,133.3% in the 2nd quarter. Covestor Ltd now owns 487 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 484 shares during the period. Quantbot Technologies LP bought a new stake in MGE Energy during the 3rd quarter valued at $47,000. Money Concepts Capital Corp acquired a new position in MGE Energy during the 4th quarter worth $48,000. Finally, Steward Partners Investment Advisory LLC grew its stake in shares of MGE Energy by 39.0% in the first quarter. Steward Partners Investment Advisory LLC now owns 834 shares of the utilities provider’s stock worth $65,000 after purchasing an additional 234 shares in the last quarter. 54.08% of the stock is currently owned by institutional investors.
About MGE Energy
MGE Energy, Inc, through its subsidiaries, operates as a public utility holding company primarily in Wisconsin. It operates through Regulated Electric Utility Operations; Regulated Gas Utility Operations; Nonregulated Energy Operations; Transmission Investments; and All Other segments. The company generates, purchases, and distributes electricity and natural gas in Wisconsin and Iowa; and plans, constructs, operates, maintains, and expands transmission facilities to provide transmission services.
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